The Warehouse Receipt System has officially been launched in Kenya enabling farmers to store their produce in exchange for a warehouse receipt that can be traded, sold, exchanged or used to source credit and farm inputs.
Agriculture Cabinet Secretary Peter Munya says the warehouse receipt system would help reduce post-harvest losses from the current 40 percent to 10 percent and enhance earnings.
The Food and Agriculture Authority has certified and registered 45 stores and one silo under the warehouse receipt system.
The registered facilities have started accepting farm produce in exchange for a receipt that can be used to access credit at four financial institutions.
The National Cereals and Produce Board facilities in Kitale, Eldoret, Meru, Nakuru and Nairobi have started receiving farmers produce.
Plans are under way to incorporate potato and coffee into the warehouse receipting system that initially targeted grains to cut off middlemen who were said to be fleecing farmers.
The system which was officially launched Thursday in Kitale, will see farmers storing their produce in exchange for a warehouse receipt that can be traded, sold, exchanged or used to secure farm inputs.
WRS will help stabilize market prices, eliminate unscrupulous traders who make agriculture unfavourable to many, thus ensuring better prices to farmers with standard and quality weight produces. @PeterMunya @HamadiIddiBoga @NCPB_KE @MyGovKe @NTVnewsroom @citizentvkenya @KTNNewsKE
— Ministry of Agriculture (@kilimoKE) January 13, 2022
Through Warehouse Receipt System, sale of agriculture commodities will be done in a modern and efficient way.
The Kenya Investment Authority is expected to develop an investment manual that will guide potential investors on opportunities in the warehousing infrastructure and logistics
In other news – Mulamwah and ex-girlfriend Sonie broke up while 3 months pregnant
Mulamwah and his ex-lover Sonie broke up last year when she was three months pregnant but kept it a secret until they welcomed their baby.
In a recent interview with Mseto East Africa, the father of one shared details about their unsuccessful relationship. Learn more